European FVL Cost Index

Update of the European FVL Cost Index for Q3 and Q4 2025 is now
released

Developed through a longstanding partnership between ECG –
the Association of European Vehicle Logistics – and PwC Austria, the
Index provides regular and insightful updates to the FVL Industry.
In light of the current global fuel crisis with the recent sharp increase in oil and
diesel prices and their potentially wide-ranging impact on the sector, an
additional Q1 2026 update will follow at the end of April.

The European Finished Vehicle Logistics (FVL) Cost Index for Q4 2025 stands at
151.1 which indicates an overall cost increase of 51.1 % from January 2019 to
December 2025. Compared to the latest reported values for Q2 2025, three out of four
segments showed an increase in Q3 and Q4 2025. For Q2 2025 the index stood at
152.8, hence, the index decreased by 1.7 index-points since the last index update.
This development is greatly driven by the decrease of the FVL Sea Cost Index. For
the four segments the following results were derived:

▪ Logistics segment road: The FVL Road Cost Index amounts to 129.4 for Q4
2025 which shows an overall cost increase of 29.4% between January 2019
and December 2025. For Q2 2025 the index stood at 128.8, hence, the index
increased by 0.6 index-points since the last index update. This slight cost
increase is mainly based on increasing labour costs as well as toll increases.

▪ Logistics segment sea: The FVL Sea Cost Index amounts to 199.9 for Q4
2025 which shows an overall cost increase of 99.9% between January 2019
and December 2025. For Q2 2025 the index stood at 208.8, hence, the index
decreased by 8.9 index-points since the last index update. The decrease in the
pure car and truck carrier (PCTC) vessel time charter rates, new building costs
and bunker fuel drive this index development.

▪ Logistics segment rail: The FVL Rail Cost Index amounts to 133.5 for Q4
2025 which shows an overall cost increase of 33.5% between January 2019
and December 2025. For Q2 2025 the index stood at 132.7, hence, the index
increased by 0.8 index-points since the last index update. This cost increase is
mainly driven by further increases in asset costs as well as labour increases in
some of the European countries.

▪ Logistics segment compounds: The FVL Compounds Cost Index amounts
to 128.9 for Q4 2025 which shows an overall cost increase of 28.9% between
January 2019 and December 2025. For Q2 2025 the index stood at 126.3,
hence, the index increased by 2.6 index-points since the last index update. This
development is primarily caused by further increases in labour and asset costs.

The full version of the updated figures for Q3 and Q4 2025 differentiated by segments
and countries is available as an appendix to the study released in March 2023 here.

In light of the current geopolitical developments and the resulting uncertainty across
multiple cost dimensions we will be providing an additional update for Q1 2026 in six
weeks’ time, planned at the end of April. This supplementary update is intended to
ensure that all stakeholders are kept fully informed as the broader implications of these
developments continue to unfold. Should you have any questions on the FVL Cost
Index or would like to be involved in the process of future index updates, please feel
free to contact PwC Austria or the ECG secretariat

Watch the video and find out more